Wednesday, 2 May 2012

Century Software 1Q net profit up 4.1% to RM2.03 million

KUALA LUMPUR (May 2); Century Software Holdings Bhd net profit forthe first quarter ended March 31, 2012 rose 4.1% to RM2.03 million from RM1.95 million a year earlier due mainly to higher level of maintenance income secured in relation to the financial management solutions (FMS) division.

The company said on Wednesday that revenue for the quarter rose 11.37% to RM8.52 million from RM7.65 million in 2011.

Earnings per share fell to 0.59 sen from 1.13 sen previously, while net assets per share was 16 sen.

On its prospects, Century Software said it was confident of achieving better performance for the financial year ending 31 December 2012 based on the market developments and market trends impacting the Group’s business divisions.

It said the recent award of new contracts by Pertubuhan Keselamatan Sosial (SOCSO) and Lembaga Hasil Dalam Negeri (LHDN) for a total contract value of RM39. 12 million to FMS would would provide a strong revenue traction for stable growth and sustainable profits.

“Payment Aggregate Solutions division (PAS) – this division has been streamlined to focus on the financial institution’s growing needs for e-transactions going forward.

“Wealth Management Solutions division (WMS) – active tendering of contracts for both Indonesian and Malaysian markets for wealth management solutions and banking services are being initiated, after this division successfully secured its maiden project in Malaysia for RM130,146.30 on Jan 10, 2012,’ it said.